- Okay, so TheKing dipped around -20%. - For some peoples it could means panic and the end of cryptos. - For Veterans those kinds of "mini crash" are very commons.
- We saw already harder moves in 2019 ( White Circle ) - Now those corrections are more large simply because BTC price is higher. - Actually the situation still looking much more better than 2019-20 ( Covid )
-------------------------------------------------------------------------------------------- - i used only ichimoku on weekly Timeframe to make this analyze. -------------------------------------------------------------------------------------------- - Like always everything is in graph.
- Basically BTC got a first big resistance around 32k$. ( Flat Cloud ). - Next potential resistances are around 43k$ and 48k$. ( Flat Cloud ).
- For now BTC bounced on Kijun and found a support around 25k$. - The price is staying inside the cloud so it just means for now " indecision ". - Kijun Line ( Red ) is starting to make a flat around 25k$, it could mean " Build Support ". - on Weekly TF, ichimoku cloud crossed bullish.
- So to get more bearish movements we need 2 confirmations at least :
1 : BTC have to dip under the red cloud. 2 : Tenkan and Kijun have to death cross ( Kijun (red line) have to go on top ).
So for now, nothing is predicting a new low but time will speak.
What are these indicators called and how exactly do they work?!
thecryer
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@ZeeMura, there's only one indicator on this chart, "ichimoku", i invite you to google it to find more informations and learn about it, it would be too long to explain all his functionalities here. cheers !
HayeTrading
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As long as we stay above June low, I'm still long biased 👍
thecryer
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@HayeTrading, right for now BTC still making HH and LL, GL mate!